OpenRuby.com

17 Mar '13, 7pm

@AbbyMartin @afneil @jonsnowC4 @krishgm @faisalislam @ProfSteveKeen @zerohedge #Bitcoin = Bad Idea.. Here's Why...

@AbbyMartin @afneil @jonsnowC4 @krishgm @faisalislam @ProfSteveKeen @zerohedge #Bitcoin = Bad Idea.. Here's Why...

Investing in and using Bitcoins , a digital currency that can be transferred directly from person to person through the Internet, is a particularly bad idea because it is unstable and is being used as a speculative vehicle. That’s the consensus answer on question-and-answer site Quora. The currency is designed to remove the middle man in transactions. That can be a transaction provider like PayPal or a bank when someone makes a purchase with a credit or debit card. When someone makes a transaction, the Bitcoin is automatically transferred to the recipient through an encrypted transaction that ensures Bitcoins can’t be hacked or created artificially. New Bitcoins are added to the market through the “Bitcoin Mining” — a process where individuals run servers that handle Bitcoin transactions and get paid in Bitcoins for doing so. The number of Bitcoins available to users is al...

Full article: http://venturebeat.com/2011/06/13/quora-bitcoin-bad-idea/

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